The World's Biggest Debtor Nations

Daredevil

On Vacation!
Super Mod
Joined
Apr 5, 2009
Messages
11,615
Likes
5,772
The World's Biggest Debtor Nations


15. United States - 95.09% External debt (as % of GDP): 95.09%

14. Norway - 114% External debt (as % of GDP): 114%

13. Finland - 116% External debt (as % of GDP): 116%

12. Sweden - 129% External debt (as % of GDP): 129%

T-10. Spain - 137.5% External debt (as % of GDP): 137.5%

T-10. Germany - 137.5% External debt (as % of GDP): 137.5%

9. Denmark - 159% External debt (as % of GDP): 159%

8. France - 168% External debt (as % of GDP): 168%

7. Austria - 191% External debt (as % of GDP): 191%

6. Switzerland - 264% External debt (as % of GDP): 264%

5. Netherlands - 268% External debt (as % of GDP): 268%

4. Hong Kong - 295% External debt (as % of GDP): 295%

3. Belgium - 327% External Debt (as % of GDP): 327%

2. United Kingdom - 336% External debt (as % of GDP): 336%

1. Ireland - 811% External debt (as % of GDP): 811%


This includes both private and public debt.
Iceland is missing but it is bankrupted anyways.

---------

All these western countries are fueling their exorbitant life styles on borrowed money.

The World's Biggest Debtor Nations - Slideshows - CNBC.com
 

Su-47

Regular Member
Joined
Apr 20, 2009
Messages
282
Likes
40
A lot of this debt is in the form of borrowing from the public.

I worked for a small asset management firm in Botswana last year. This is a very small firm, with a total portfolio worth of about $5bn or so (which is peanuts compared to larger firms). A considerable percentage of the portfolios were made up of US and UK govt bonds.

when you consider the fact that the governments of these countries owe hundreds of millions of dollars to even the clients of a small asset management firm in an African country, you can just imagine how much they owe to the rest of the world.

And now with the global recession, these countries are forced to borrow even more in order to bail out the major multinationals (who themselves have a high level of gearing) in order to avoid a depression.
 

Known_Unknown

Devil's Advocate
Senior Member
Joined
Apr 21, 2009
Messages
2,626
Likes
1,670
While S&P and other rating agencies downgraded India's credit rating last year because of debt reaching near 9% of GDP, how come they haven't done the same for the western countries considering their massive debt? Their credit rating should be in the dustbin by now.

Another thing. I understand how the US is able to sustain its economy inspite of high debt, because the primary world currency is the US$, and so the US basically controls the world economy. It can just refuse to pay back its debt one day by adjusting the value of the $, and no one will be able to do anything about it. But what about these other western countries? What would it take to cause an economic collapse in these countries? Would it require the rest of the world to stop buying Euros?
 
Joined
Feb 16, 2009
Messages
29,799
Likes
48,278
Country flag
Looks like Asia and Middle East are the only ones holding any cash while the West has gone into high debt,low manufacturing and exporting position, getting by on exporting commodities, this is the result of a weak dollar policy started in the clinton administration and imbalances in trade.
 

p2prada

Senior Member
Joined
May 25, 2009
Messages
10,234
Likes
4,015
The 95% for US far eclipses the other 14 countries.
 

Latest Replies

Global Defence

New threads

Articles

Top